Judges: TERRELL, J. —
Attorneys: James H. Finch, for Appellant;
H. L. Grace, John H. Carter and John H. Carter, Jr., for Appellee.
Filed: Mar. 03, 1933
Latest Update: Mar. 02, 2020
Summary: On the 16th day of February, 1920, Pennington Evans, a partnership, by the joint action of both parties joined by their wives, executed a purchase money mortgage to J. C. Sims, securing three notes of $2,500.00 each, or a total purchase price of $7,500.00. May 15, 1920, Pennington and Evans, by it partner, C. R. Evans, executed a second mortgage to Helen K. Dekle securing a note in the sum of $4,000.000 and describing the identical lands described in the mortgage of February 16, 1920, to Sims. H
Summary: On the 16th day of February, 1920, Pennington Evans, a partnership, by the joint action of both parties joined by their wives, executed a purchase money mortgage to J. C. Sims, securing three notes of $2,500.00 each, or a total purchase price of $7,500.00. May 15, 1920, Pennington and Evans, by it partner, C. R. Evans, executed a second mortgage to Helen K. Dekle securing a note in the sum of $4,000.000 and describing the identical lands described in the mortgage of February 16, 1920, to Sims. He..
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Subrogation should be strictly confined to the balance due on the J. C. Sims mortgage and which was actually paid out of the amount of the loan made by the Federal Land Bank, which balance appears to have been $5,236.00. See page 98 of record. This also appears to have been expressly admitted in the brief filed by counsel for the Land Bank as being the correct amount.
